Super Micro Computer stock (NASDAQ: SMCI) is seeing a real possibility of being delisted from the Nasdaq in the coming days.

After riding high on surging AI-related demand to start 2024, Supermicro has seen a precipitous valuation decline. Along with huge sell-offs for the stock, the strong sales and earnings growth the company has reported mean its stock could look quite cheap by many traditional valuation metrics.

The stock is now down more than 25% for the year and more than 80% from its all-time high, set earlier this year. With that kind of decline, some investors may wonder if it's a stock with some value in it.